Abu Dhabi Future Energy Company PJSC, better known as Masdar, on Friday unveiled a contract to buy a 49% stake in the 3-GW Dogger Bank South offshore wind farm in the UK, along with other deals for renewable energy initiatives in the Kyrgyz Republic, Kazakhstan and Indonesia.
The UAE state-owned company announced the agreements on Friday, on the sidelines of the ongoing COP28 climate summit in Dubai. All deals also align with the group’s ambitions to further grow in the renewable energy market and achieve 100 GW of installed capacity by 2030.
BRITISH ACQUISITION
As part of a GBP-11-billion (USD 13.94bn/EUR 12.83bn) investment in the UK’s renewables sector, Masdar has committed to buying a 49% stake in RWE Renewables’ Dogger Bank South project in a deal seen to be closed in the first quarter of 2024.
To be located in the North Sea, some 110 km (68 miles) off the east coast of Yorkshire, Dodger Bank South will consist of the DBS East Array and the DBS West Array. Each of them will be of 1.5 GW in size and will span 500 sq km, with their combined output expected to be enough for roughly three million British homes.
RWE secured seabed rights for Dogger Bank South in the UK government’s Offshore Wind Leasing Round 4 last year. The German firm will keep a 51% ownership stake and will handle all development, construction and operation activities.
Construction works are slated to begin as early as end 2025, with the first 800 MW anticipated to go online in 2029. The entire Dogger Bank South should become operational by end-2031.
KYRGYZ REPUBLIC
In collaboration with France’s EDF Energy, Masdar has sealed a Memorandum of Understanding (MoU) with the Ministry of Energy of the Kyrgyz Republic to explore the development of hydropower and renewable projects in the Asian country totalling up to 3.6 GW. The pact marks the UAE group’s entry into the hydropower sector and supports the Kyrgyz Republic’s goal of cutting its greenhouse gas emissions by 44% by 2030 and achieving carbon neutrality by 2050.
Specific details about the contemplated projects were not available.
INDONESIA
Indonesian state-owned utility PT Perusahaan Listrik Negara (PLN) and Masdar will jointly pursue the development of what they say will be Southeast Asia’s largest floating solar power park and will also seek to explore green hydrogen opportunities.
In the solar field, Masdar and PLN have signed a framework agreement to study the possibilities for tripling the capacity of the recently commissioned 145-MW Cirata floating photovoltaic (PV) plant in West Java, aiming to create a complex of up to 500 MW. The site’s current installed capacity is expected to produce electricity for 50,000 homes annually.
Additionally, Masdar and the Indonesian utility will assess options for developing renewable energy projects globally, as well as green hydrogen initiatives for decarbonising hard-to-abate industries, including steelmaking, construction, transportation and aviation.
KAZAKHSTAN
As part of a governmental pact to expand energy co-operation between the UAE and Kazakhstan, Masdar has been selected to spearhead a 1-GW wind project in the Central Asian republic. The project will be realised under a joint development agreement (JDA) with W Solar, Qazaq Green Power QGP and the Kazakhstan Investment Development Fund.
The scheme will support Kazakhstan’s goal of making renewables account for 15% of its power generation capacity by 2030 and achieving carbon neutrality by 2060.
Tags Abu Dhabi Future Energy Company (Masdar) Renewablenow
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